Podcasts & RSS Feeds

1:19pm

Business and the Economy

Gasoline Tax goes up July 1st

By The Frankfort State Journal

On July 1, the state gas tax will increase 1.9 cents from 19.5 to 21.4 cents per gallon. The gas tax is tied to the average wholesale price of gasoline, which increased according to a survey in April, said Greg Harkenrider, acting deputy executive director for the Governor’s Office for Policy Research. Chuck Wolfe, spokesman for the Transportation Cabinet, said the gas tax increase will generate about $57 million in additional revenue. The money will go into the state road fund that pays for road construction and repairs. The federal gas tax is 18.4 cents per gallon.